Anyone with experience buying houses at county auctions in Florida willing to chat?
In case you haven't tried it yet, I would recommend attending an REIA meeting. Great opportunity to learn about the local market and to network.
@Brian Varmuza Sure, what are your questions. They’re all competitive, no 70% minus repairs deals.
@Wayne Brooks I was perusing the county auction sites and I found a place where the max bid is 100K less than the estimated value. So, potentially, someone could get a great deal on the place. In your experience, how close to the estimated value does a property usually sell for? I'm asking because I'm new and I don't really want to send my deposit money to their county to sit there unless I think I have a good shot at winning the property at a price significantly below the estimated value. So I guess my question is: are these county website auctions really competitive with people driving up bids close to or even above the estimated value or is it hit or miss? Have you seen anyone get a good deal? Thanks!!
@Jamie Psmith Haven’t seen any really good deals in years...too much money looking to be put to work.
Easiest way to gauge your market....just look at all the past auction results, look at the prices verse value/what you would pay.
@Jamie Psmith Online auctions open the bidding to everyone in the world. I rarely even watch them anymore.
You may find better luck in the counties that still do it in person. Plus you won't have the issue of leaving money in a deposit account.